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Question...

ING vysya bank offered me competative rate at the time of sanction of loan i.e.comparable to nationalised bank and now they are chargeing more at there will how to go about moreover they are trying to impose 3% of forclose rate 1-6-09 whic were not there they have cheated me are there any RBI rules for private bank why RBI is not asking them to put warnig on there board that taking loan from private bank is not good for your health and welth

Answer...

Since you have taken a home loan at a floating rate of interest, it is
anyways subject to change. You should explore the option of changing
your home loan lender if you have maintained a good track record of
repayment on the loan. Tax calculation can change the view on pre-payment. You can
also check the 'Should I switch my loan' calculator on Apnaloan to
check whether it makes sense to change the lender.

You
may want to consider the prepayment charges payable to the exisitng
lender and the processing fee to the new lender. You can check the home loan comparator to compare offers.

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Date : May 31, 2009

Question

ING vysya bank offered me competative rate at the time of sanction of loan i.e.comparable to nationalised bank and now they are chargeing more at there will how to go about moreover they are trying to impose 3% of forclose rate 1-6-09 whic were not there they have cheated me are there any RBI rules for private bank why RBI is not asking them to put warnig on there board that taking loan from private bank is not good for your health and welth

Answer

Since you have taken a home loan at a floating rate of interest, it is
anyways subject to change. You should explore the option of changing
your home loan lender if you have maintained a good track record of
repayment on the loan. Tax calculation can change the view on pre-payment. You can
also check the 'Should I switch my loan' calculator on Apnaloan to
check whether it makes sense to change the lender.

You
may want to consider the prepayment charges payable to the exisitng
lender and the processing fee to the new lender. You can check the home loan comparator to compare offers.